Progressive January EPS beat expectations, says Wells FargoWells Fargo said Progressive's January operating EPS of 16c beat the firm's estimate of 14c, though the firm attributes the stock's move lower after the monthly update to the company's worse than expected underlying results. Wells continues to think Progressive's valuation could contract over time to be more inline with other personal lines carriers and maintains its Market Perform rating on the stock.

Cliffs Natural finalizes energy agreement with We Energies in U.P. of Michigan Cliffs Natural (CLF) has finalized an interim power agreement with Wisconsin Energy's (WEC) utility energy segment We Energies for its Michigan operations. The company stated that this is "one key step in a series of contemplated short and long-term agreements that are essential to the viability of its iron ore mines in the Upper Peninsula".